Resource Acquisition Plan: Fintech Solutions

Resource Acquisition Plan
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Resource Acquisition Plan
Introduction
Fintech Solutions, an IT company, is planning on relocating its offices from West Hollywood to the central business district of Downtown Los Angeles. This relocation project results from the firm's plans for expansion and growth, over and above, consolidation of existing buildings into one new space. This resource acquisition plan will outline the process for acquiring project resources in terms of skillsets, time, and budget. It will also provide a project work package showing the various related relocation tasks.
Body
The policies and procedures that exist in the project environment that govern resource acquisition relate to staff selection and training, hiring of vendors and consultants, requisition, and purchasing materials, equipment, and supplies. Resource acquisition requires that the project management team first assess project needs and develop a project charter that outlines the scope and budget of all activities. Once these fundamentals have been determined, the team then estimates the resources types required for the project and outlines them in a project management plan. The plan must be comprehensive and include basic project scope, cost, schedule times, and resources: scope management, quality management, communication management, resource management, risk management, stakeholder management, resource management, and budget management must all be contained in the plan.
Only after these estimations have been made and a project management plan has been completed can the project management team approach the company's board members for resource acquisition. The criteria for resource selection will be based on location, workforce size, cost and legal implications, budget and timeline, design and fit-out, infrastructure, and external stakeholder needs. Office relocation is a complicated and costly task, and therefore the criteria for resource allocation will be founded on the most critical facets of the project. Resources will be selected based on the company's established budget limits and timeline schedules (selected resources must be capable of driving the project to meet these two needs), the number of employees involved in the relocation (this is critical as the project strives to limit employee frustration and disruption of workload), and location (the distance from old offices to a new location will determine logistics).
Other resource allocation considerations include cost and legal implications (the cost of acquiring new office space and the legal ramifications of both existing and new leases), design and fit-out (the project will need an office design that echoes the company’s brand and personality, over and above, improve employee productivity and morale), infrastructure (the new office will require new office furniture, IT infrastructure, and security features), and external stakeholder needs (customers, business partners, and suppliers will need to be informed of the new location and therefore resources must be set for this communication need). The resources needed for the office relocation project include people, materi...